Cogs and Monsters (eBook)

What Economics Is, and What It Should Be

Diane Coyle (Autor)

eBook Download: PDF

2021
272 Seiten
Princeton University Press (Verlag)
978-0-691-23103-7 (ISBN)

Infos

How economics needs to change to keep pace with the twenty-first century and the digital economyDigital technology, big data, big tech, machine learning, and AI are revolutionizing both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems-but also opportunities-facing economics today and examines what it must do to help policymakers solve the world's crises, from pandemic recovery and inequality to slow growth and the climate emergency.Mainstream economics, Coyle says, still assumes people are "e;cogs"e;-self-interested, calculating, independent agents interacting in defined contexts. But the digital economy is much more characterized by "e;monsters"e;-untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the digital economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyzes. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems.Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by digital technologies, and realize its potential to play a hugely positive role in the twenty-first century.

Produkt-Details

• Erscheint lt. Verlag: 12.10.2021
• Zusatzinfo: 4 b/w illus.
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Steuern / Steuerrecht
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• Schlagworte: Adoption • Advocacy • Alan Greenspan • Arrow's Impossibility Theorem • Artificial Neural Network • Austerity • Big Government • billionaire • Brown University • Calculation • Capability (systems engineering) • Central Bank • civic engagement • Competition and Markets Authority • competitiveness • conventional wisdom • David Colander • Democracy • Digital Economy • Economics • Economic statistics • economist • economy • Economy of Italy • efficient-market hypothesis • Everyday life • Expense • Externality • Financial Crisis • Financial crisis of 2007–08 • food bank • Globalization • Government • Homo economicus • human science • implementation • Incentive • Inflation • Inseparability • Institutional Economics • insurance policy • John Rawls • Kenneth Arrow • Keynesian Economics • Knowledge Spillover • Legitimacy (political) • Literature • Macroeconomics • Mainstream economics • Marginal cost • Minarchism • Monetarism • monetary policy • Money Supply • Nate Silver • Neoliberalism • Network Theory • New neoclassical synthesis • Paul Romer • Payment • Philosopher • Policy • Political Economy • Political Science • Politician • Politics • Power supply unit (computer) • Pragmatism • Production Function • Profession • Psychological well-being • Quality management • radio spectrum • real estate economics • Recession • Reputation • Research and Development • rhetorical question • Road Pricing • Rule Of Thumb • school of thought • small government • Social Cost • Socialist calculation debate • Social Structure • Sputnik crisis • Suggestion • Supply Chain • Supporter • technocracy • Test score • Thomas Robert Malthus • Trade association • Transport Economics • undergraduate degree • undergraduate education • Unemployment • Unpopularity • Utilitarianism • year
• ISBN-10: 0-691-23103-6 / 0691231036
• ISBN-13: 978-0-691-23103-7 / 9780691231037